China's over-the-counter (OTC) drug market is enormous, with the size of 109.22 billion yuan (circa US$17.13 billion) in 2020. The market keeps gaining momentum due to the aging population and the growing healthcare awareness.
The market access regulation on OTC drugs has eased a bit in recent years. In 2019 and 2021, China approved two pilot programs in Beijing and Henan, respectively, for importing OTC drugs through cross-border e-commerce (CBEC). Thus, CBEC emerges as a new opportunity for foreign OTC medicines to enter China.
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